AUSTIN, Texas – According to data released today from the Texas Workforce Commission, the Austin-Round Rock MSA* unemployment rate decreased slightly from February 2023 to March 2023, and is now at 3.5%**, as represented by 50,219 unemployed residents. Key takeaways include:
- The Austin metro unemployment rate remains below Texas (4.2%) and national (3.6%)
- According to TWC, the Austin metro gained 10,800 jobs from February to March. The region has experienced an annual growth rate of 2%, representing the collective addition of 64,300 jobs since March 2022.
- Furthermore, TWC reports unemployment in the Capital Area/Travis County region*** decreased to 3.4% from February to March, representing 29,068 unemployed residents.
- Note: The unemployment data released today is not seasonally adjusted.
March Job Growth/Losses by Industry in the Austin-Round Rock MSA:
- Monthly Increases: Industries that experienced regional job growth from February to March include leisure and hospitality (6,400), mining, logging and construction (2,500) and professional and business services (1,900).
- Other industries that experienced monthly job growth include private education and health services (1,400).
- Monthly Decreases: Information (-600) and trade, transportation and utilities (-400) experienced regional job losses from February to March.
- Other industries that experienced monthly job losses include manufacturing (-300) and government (-300).
- Annual Increases: Leisure and hospitality experienced the greatest regional job growth over the past 12 months with an increase of6%, followed by professional and business services (6.8%).
- Other industries that experienced annual job growth include manufacturing (6.4%), other services (5.7%) and private education and health services (4.5%).
- Annual Decreases: There were no annual decreases from March 2022 to March 2023.
Workforce Solutions Capital Area recently hosted its annual ‘Hire Local Summit,’ featuring impact data and announcements about the organization’s results connecting local people to in-demand jobs in Austin-Travis County. Notably, mobility and infrastructure was announced as a new priority focus for the region, prompted by the organization’s outlook on the future workforce needs and growth of the industry in Austin.
“Research projections show that Project Connect and other major infrastructure projects will require thousands of new frontline operations and management positions and we want to ensure that local talent is prepared and prioritized when these roles become available,” Tamara Atkinson, CEO of Workforce Solutions Capital Area, said. “We see tremendous opportunity for the mobility and infrastructure industry to deliver quality career options for Central Texans and we need to get to work now, not later, to build that talent pipeline.”
Another takeaway from the summit was the work being done to engage K-12 students to support the development of academic and technical skills required for the future workforce. Workforce Solutions Capital Area, in partnership with Region 13 Education Service Center, is actively enlisting local employers to participate in the 2023 Summer Educator Externship program. This externship program connects counselors, college and career advisors and career and technical leaders with employers in in-demand industries in Central Texas. These educators will have the opportunity to work alongside employers for three days this June and July to learn about employability skills, company culture, and career pathways within the company. Concluding the externship, educators create lesson plans based on their experiences, which can then be used in the classroom to help students make career decisions.
“We’re strengthening relationships with local school districts and connecting with the next generation of skilled talent,” Melanie Flowers, board chair for Workforce Solutions Capital Area, said. “We encourage local employers in all industries, and particularly high-growth sectors like healthcare, manufacturing and tech, to join us by registering for the Summer Educator Externship.”
Companies interested in participating can register online by May 12.
Workforce Solutions Capital Area’s three career centers across Austin are available by phone, email, or in-person to serve residents and businesses impacted by economic changes caused by COVID-19. Residents seeking assistance can contact 512-454-9675 or visit wfscapitalarea.com to learn about services and resources for job seekers, employers, parents, and students.
Workforce Solutions Capital Area is the non-profit organization that serves as the leadership and governing body for the Austin/Travis County area workforce system. They are responsible for the planning, oversight, and evaluation of workforce development activities in the Capital Area. Learn more at WFSCapitalArea.com and follow along on Facebook, LinkedIn, Instagram, Twitter and YouTube.
*The Austin-Round Rock Metropolitan Statistical Area includes Bastrop, Caldwell, Hays, Travis, and Williamson counties.
**Unemployment rates listed are not seasonally adjusted.
***The Capital Area Workforce Development Area includes Travis County.